After a price spike in 2021, Dogecoin became one of the most sought-after cryptocurrencies, and many expect it to repeat that performance. Since then, Dogecoin’s price has not increased, leaving investors wanting more. However, this period of underperformance may be coming to an end, as a cryptocurrency analyst expects the meme coin to see a significant price escalate.
Dogecoin Price Heads Towards New All-Time High
Despite rebounding from the recent market crash, Dogecoin price is still well below its all-time high price of $0.07376 recorded in May 2021. To some, this is a bad sign, while others believe it means that meme coin is at a good level for purchase.
One of the cryptocurrency analysts who has maintained his bullish stance on Dogecoin is Alan Santana. In a recent analysis, Santana revealed his high expectations for Dogecoin’s price, predicting that the largest meme coin by market cap is headed towards a recent all-time high price.
In the analysis, the cryptocurrency analyst revealed that he expects that Dogecoin Price will eventually reach $2.55. If this price level is reached, Dogecoin price will escalate by over 2500% from its current value.
Perhaps even more intriguing than the price is the time frame. Santana expressed that he expects DOGE price to achieve that goal by 2025. That would also represent a 200% escalate from the current all-time high.
When is the best time to buy DOGE?
The crypto analyst also took the time to remind readers of the importance of ownership. Some of the other things he mentioned include not being greedy, not rushing, and not trying to only sell the top. The crypto analyst, on the other hand, believes that now is the time to buy and the only time to sell is in 2025.
According to Santana, it doesn’t matter where we are now buying Dogecoin. As long as the price exceeds $1, that means profits regardless of when the coins were bought. “It’s important to buy red when prices are low,” the analyst said. “It’s important to get into the market when it’s dull and people are far away. That’s the best time to buy. If there’s excitement and hype, it’s too late.”
Finally, the crypto analyst points out that the market moves in waves, meaning it doesn’t go up or down forever. In the case of Dogecoin, Santana stated, “It was going down, it’s going to go up soon.”
Featured image created with Dall.E, chart from Tradingview.com
